Bitcoin was created in 2008 as a trust-less cash system. This was created by a person or a group called Satoshi Nakamoto. No one really knows who this person or group is, but what Satoshi Nakamoto has said about Bitcoin is that they created this to make online transactions or digital monetary transfers easier because of the lack of third-party involvement.
It was only a few years back, or specifically 2017 when Bitcoin made it to the spotlight on a good note. This was the year when its value peaked at 20,000 US dollars and many people suddenly wanted to have cryptocurrencies. Many industries have also started adapting its use and currently, there are already a good number of people who have Bitcoin and other cryptocurrencies like Ethereum, Litecoin, and DogeCoin.
Currently, studies have found that around 30 percent of Bitcoin owners would use their coins to make payments online. This means that they shop with cryptocurrencies and gamble with it too. There are now many online casinos that accept crypto payments. Some casinos even only cater to the crypto market and you can check clovr.com to know which these are.
And so, crypto gambling is becoming popular and there are a few great reasons why this is the case. Aside from the fact that more and more people are now starting to use cryptocurrencies, there are actually a few benefits, and here are some of them that could make you want to use Bitcoin and other cryptos when you’re gambling online.
Private And Secure
Transacting with cryptocurrencies is generally safe and secure. You don’t need to keep on disclosing your banking information every time you send coins to a wallet address. You can basically send coins anonymously and this is why many gamblers prefer cryptos too.
Many still see gambling as something immoral and this is why online gamblers take the opportunity to gamble online anonymously. Aside from that, banks are generally strict when it comes to transactions that are related to gambling. This brings us to the next reason why you should gamble with Bitcoin instead.
Transactions made with cryptocurrencies are generally faster because of its decentralized system or nature. Banks have middlemen who would process the transactions and payments that you make and this is not the case for cryptocurrencies.
There are no middlemen here and approvals are no longer necessary. Some banks would take up to 7 business days to process transactions and that is the hassle you can avoid when you are using cryptocurrencies.
Since there are no middlemen when it comes to the transactions you make, it is generally cheaper to pay with cryptos. Fees are usually lower and sometimes even zero whenever you make a payment with this. Having no middlemen simply means no one needs to get paid for your payment or transaction to be processed.
Better Promos And Bonuses
Bitcoin casino operators usually have it better because they don’t need the service of third-party payment processors to get the payments and deposits from their customers. All they really need is a wallet address and to validate the payment that a customer makes.
This is why they are more capable of giving out generous bonuses to their customers. It is typical that online casinos that only accept cryptocurrency payments have a bigger welcome or signup bonus. They also usually have better loyalty or VIP programs that you can take advantage of.
Can Be Used Worldwide
Unlike fiat currencies, you can use any cryptocurrency wherever you are in the world. It is basically a global currency that is accepted in many online casinos. Whatever online gambling site it is, whether it’s for lotto, casino games, sports betting, slots, and many other more, as long as it processes Bitcoin payments, you’re good to go. There is no need for exchange rates. This is also why it is generally cheaper to transact with cryptos.
These are just a few reasons why you should transact or gamble with cryptocurrencies. Studies have found that currently, online shoppers are still not that interested in the use of Bitcoin and other cryptos. However, the biggest online companies would already accept and transact with these. This is because many experts believe that cryptocurrencies, especially Bitcoin, is the future of online transactions.
Many think that using cryptos is a complicated business, but it isn’t really. You just really need to buy coins with your money. Think of it as a fiat currency, however, it is digital and can only be used online.
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